Bowne Relocating to 55 Water Street

Monday, February 28, 2005

Press release from the issuing company

NEW YORK, Feb. 25 -- Bowne & Co., Inc., today announced that in January 2006, it will relocate its New York offices currently located at 345 Hudson Street to 55 Water Street. As the oldest listed company on the New York Stock Exchange, Bowne has been an essential part of New York City's business and financial landscape for more than 225 years. This move of Bowne's New York-based operations and more than 400 employees re-emphasizes the company's commitment to New York and to the revitalization of lower Manhattan, the world's financial hub.
"Bowne opened its first office on Pearl Street in 1775, and takes pride in its rich history and time-honored dedication to New York," said Philip E. Kucera, Bowne's Chief Executive Officer. "We're happy to have this opportunity to play a significant role in rebuilding downtown, while at the same time making a wise decision for our clients, shareholders, and employees."
New York City's largest office structure, 55 Water Street recently underwent a $156 million base-building renovation that included a massive restructuring of its technology infrastructure. Multiple redundancies in every major operating system, from electric, HVAC, and telecom to life safety and security, enable uninterrupted building systems and facilitate around-the-clock operations for its tenants and their clients.
"Moving to this new facility will really enable us to enhance the service we provide to our clients," David J. Shea, Bowne President and Chief Operating Officer, said. "Our offices will be completely state-of-the-art, and we're going to be taking advantage of some of the most advanced technologies available. Furthermore, we believe that the new downtown location will be more accessible to all of our clients."
Under the 20-year lease, Bowne will occupy 200,000 square feet of space in the south building of 55 Water Street.